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do not cooperate with the fiscal cliff idea. rebel and say just extend everything and come back later when the economy is at full employment. >> how do you rebel against the fiscal cliff idea? paul, if you listen to boehner and his plan, he sort of says it's erskine bowles plan. is it possible to rebel against an idea marching along? we're on day 29, heading into day 28. >> i get excited when i hear david say things so far outside the box. but this is washington. i guess it's not air box, it's a beltway here. and we are in this debt mania. there is a long term crisis on debt. i think david would agree with that. if you actually go back and read what my old boss and his partner wrote almost two years ago now, they said these things, these cuts in tax increases should be back loaded so we don't damage the economy. in the president's proposal, he does have a small infrastructure bank program to try to jump-start some growth, so i think it's a good idea. raising tax rates on the rich. i saw your interview with senator coburn. he is
do not cooperate with the fiscal cliff idea. rebel and say just extend everything and come back later when the economy is at full employment. >> how do you rebel against the fiscal cliff idea? paul, if you listen to boehner and his plan, he sort of says it's erskine bowles plan. is it possible to rebel against an idea marching along? we're on day 29, heading into day 28. >> i get excited when i hear david say things so far outside the box. but this is washington. i guess it's not...
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the fiscal cliff counteroffer has one thing in common. the differences between the new republican plan and what the white house proposed are stark when it comes to taxes. the gop calls for $800 million in new taxes. it's half of what the white house asked for. republicans to $67 billion. the gop plan changes how security benefits would be calculated. why he favors tax rates instead of eliminating deductions. not enough revenue. less revenue equals more cuts in education. republicans ruled that out saying the new revenue would not be achieved through higher tax rates which we continue to oppose. they were referring to an erskine bowles plan that he testified to in the fall of 2011. the white house made it clear that's a nonstarter and they won't even respond until the gop puts forth a plan that includes a tax rate hike. the obstacle continues to be republicans who hold out hope. millionaires and billionaires. while it sounds like the two sides are far apart, the budget numbers are not that far apart. the white house you get close. they say
the fiscal cliff counteroffer has one thing in common. the differences between the new republican plan and what the white house proposed are stark when it comes to taxes. the gop calls for $800 million in new taxes. it's half of what the white house asked for. republicans to $67 billion. the gop plan changes how security benefits would be calculated. why he favors tax rates instead of eliminating deductions. not enough revenue. less revenue equals more cuts in education. republicans ruled that...
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that's really what the crux of this fiscal cliff negotiation -- what these fiscal cliff negotiations are all about. they're about fairness. when the president and congressional democrats talk about the need for balanced approach, to deficit reduction and dealing with the fiscal cliff, we're talking about fairness. we're talking about making sure that if you work hard and play by the rules everyone has a chance to succeed. that the middle class needs certainly tight right now. speaker pelosi and my colleague congressman tim walls, filed a discharge petition today to take the bill that we have, that has already passed the senate, that grants certainty to the middle class, to take that bill up and make sure that we can extend the middle class tax breaks before the holidays where we can give -- that's what everyone agrees on. i don't know any republican or democrat that thinks we should let those tax rates -- tax cuts for the middle class expire. so we should pass that now. and then on the things that we're having more trouble agreeing on, we should sit down at the table. the one thing i
that's really what the crux of this fiscal cliff negotiation -- what these fiscal cliff negotiations are all about. they're about fairness. when the president and congressional democrats talk about the need for balanced approach, to deficit reduction and dealing with the fiscal cliff, we're talking about fairness. we're talking about making sure that if you work hard and play by the rules everyone has a chance to succeed. that the middle class needs certainly tight right now. speaker pelosi and...
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the president took to twitter today to answer questions about the fiscal cliff. one person asked whether deductions for homeowners are at risk to which the president responded, breaks for middle class important for families and economy. if top rates don't go up, danger that middle class deductions get hit. signed "bo." yesterday house speaker john boehner said this on fox news. >> listen, nobody want to go over the cliff. that's why the day after the election i tried to speed this process up by making a concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. you know, the president's idea of a negotiation is, roll over and do what i ask. >> and on "meet the press" yesterday grover tried to change america's mind about who to blame if we do go off the cliff. >> tea party 2 is going to dwarf tea party one if obama pushes us off the cliff. let's not pretend who's pushing us offer the cliff. >> but continuing to insist that the president does have the better argument. >> at the end of the day, presi
the president took to twitter today to answer questions about the fiscal cliff. one person asked whether deductions for homeowners are at risk to which the president responded, breaks for middle class important for families and economy. if top rates don't go up, danger that middle class deductions get hit. signed "bo." yesterday house speaker john boehner said this on fox news. >> listen, nobody want to go over the cliff. that's why the day after the election i tried to speed...
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in a new interview president obama says a deal to avoid the so-called fiscal cliff is still possible but not without higher taxes for the wealthy. the president sat down with bloomberg for his first tv interview since the election and the fiscal cliff face off. he reiterated that lying in the sand is higher taxes for the wealthy. he gave republicans some room to maneuver. >> the issue right now that's relevant is the acknowledgment that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms and entitlemented ientitlements i'm prepared to make, we have to see the rates on the top 2% go up. we're not getting a deal without it. understand the reason for that. it's not me being stubborn or partisan, it's a matter of math. >> and the gop plan, which was unveiled yesterday, includes $800 bill onin new taxes made through closing loopholes and deductions and not raising rates. compare that to the president's plan and that's about half of what the white house asked for. republicans propose 600 billion in entitle
in a new interview president obama says a deal to avoid the so-called fiscal cliff is still possible but not without higher taxes for the wealthy. the president sat down with bloomberg for his first tv interview since the election and the fiscal cliff face off. he reiterated that lying in the sand is higher taxes for the wealthy. he gave republicans some room to maneuver. >> the issue right now that's relevant is the acknowledgment that if we're going to raise revenues that are sufficient...
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. >>> but first, the president has a plan to avoid the fiscal cliff. but republican house speaker john boehner dismisses it as, and i'm quoting, la la land. the republicans offered their proposal, that happened about 24 hours ago. the white house quickly labels it as nothing new. business as usual, right? so how do we move beyond this stalemate in washington? we heard from the president, just a short time ago. our chief white house correspondent jessica yellin joins me now, jessica, the president spoke out, sat down in an interview with bloomberg tv, and in listening to the interview, did you hear any clues toward a possible compromise here? >> reporter: not new clues, brooke. the president laid down the marker that we heard from the white house consistently, which is they aren't moving until they hear the republicans agree to raise tax rates on the wealthiest. listen to what the president had to say. >> i think that, you know, we have the potential of getting a deal done, but it is going to require what i talked about during the campaign, which is a b
. >>> but first, the president has a plan to avoid the fiscal cliff. but republican house speaker john boehner dismisses it as, and i'm quoting, la la land. the republicans offered their proposal, that happened about 24 hours ago. the white house quickly labels it as nothing new. business as usual, right? so how do we move beyond this stalemate in washington? we heard from the president, just a short time ago. our chief white house correspondent jessica yellin joins me now, jessica,...
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just 28 days to go before the fiscal cliff deadline, today house republicans sent the president a counter-offer, calling for big cuts to entitlement spending, and no new taxes on the wealthy. >> tom: i'm tom hudson. auto sales speed up in november, with buyers taking advantage of ultra-cheap financing to ditch
just 28 days to go before the fiscal cliff deadline, today house republicans sent the president a counter-offer, calling for big cuts to entitlement spending, and no new taxes on the wealthy. >> tom: i'm tom hudson. auto sales speed up in november, with buyers taking advantage of ultra-cheap financing to ditch
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what we have to do in the short term is avoid the fiscal cliff. the major decisions with regard to tax reform, social insurance programs, et cetera, can't and shouldn't be made until next year, after the american people are engaged and the committees do their work. >> david gergen, how do you get the political solution that opens the door to the policy conversations? >> well, i was encouraged that the republicans actually came forward with something today. a lot of people thought they would not. the president as you know, his team rejected it late this afternoon, but nonetheless, if people truly want to find a bridge to avoid the fiscal cliff, a way to get to the big issues as david walker says would have to come next year, i think they're the makings of it here. each side will have to compromise some more. each side will have to eat a little crow but i think it's imperative that the president take the view that what he's looking for is a win-win. if they take a win-win approach, i think they can get a deal. >> comment on that point. if two wrongs
what we have to do in the short term is avoid the fiscal cliff. the major decisions with regard to tax reform, social insurance programs, et cetera, can't and shouldn't be made until next year, after the american people are engaged and the committees do their work. >> david gergen, how do you get the political solution that opens the door to the policy conversations? >> well, i was encouraged that the republicans actually came forward with something today. a lot of people thought...
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let's talk about the fiscal cliff. the president says the republicans have to agree to raising the marginal tax rate for the wealthiest top 2% from 35%. does he mean it has to go back up to 39.6% as was the case during the clinton administration or is there some wiggle room in between 35% and 39.6%? >> the president has repeatedly said there's room for compromise. but what this boils down to is a matter of fairness and a matter of math. giving certainty to the middle class is essential. there's no way mathematically, if you look at the republican's proposal, that you can get to the deficit reduction that we need to with preserving the middle class tax cuts by not increasing as the republicans refuse to do the upper tier rates. there's room for discussion, but that -- >> so the 39.6%, that's not a red line? >> as far as i know and the conversations i've had, the president has said there's room for compromise, but for the red line to be drawn in the sand by republicans to say that an increase in rates on the wealthiest a
let's talk about the fiscal cliff. the president says the republicans have to agree to raising the marginal tax rate for the wealthiest top 2% from 35%. does he mean it has to go back up to 39.6% as was the case during the clinton administration or is there some wiggle room in between 35% and 39.6%? >> the president has repeatedly said there's room for compromise. but what this boils down to is a matter of fairness and a matter of math. giving certainty to the middle class is essential....
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who is afraid of the big bad so-called fiscal cliff? maybe it should be termed the nice gradual fiscal slope. we've certainly heard a lot of ceos and other financial cassandras in recent weeks prove size doom if it a deal isn't cut by year's owned. but washington, both side have dug in their heels, and the answer may be that suddenly the sliding down the fiscal slope does not seem that bad. maybe that's why the republicans leaders like speaker of the house john boehner were able to put off making a counter proposal to the president's offer until today. crossing the red line on the talks by rejecting the demind that the republicans accept a hike in the marginal tax rate for those with income over a quarter million dollars a year. my view? obviously i agree with the white house on the substance and as i have said before, their hand gets stronger over time. but sometimes a new idea can change the dynamic. here is an idea that has been around for a long time, supported by james tobin way back and pushed by ralph nadar in a "washington post"
who is afraid of the big bad so-called fiscal cliff? maybe it should be termed the nice gradual fiscal slope. we've certainly heard a lot of ceos and other financial cassandras in recent weeks prove size doom if it a deal isn't cut by year's owned. but washington, both side have dug in their heels, and the answer may be that suddenly the sliding down the fiscal slope does not seem that bad. maybe that's why the republicans leaders like speaker of the house john boehner were able to put off...
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thank you for that reporting from washington. >>> president obama talking about the fiscal cliff. in his first television interview since the election, that cliff, of course the combination of government spending cuts and tax increases that automatically go into effect on january 1st because people we elected to make a deal can't make a deal. yesterday, republicans proposed steep spending cuts but gave no ground on president obama's call to raise taxes on the wealthiest americans. here's what the president told bloomberg's white house correspondent about that. >> unfortunately the speaker's proposal right now is still out of balance. you know he talks, for example, about $800 billion worth of revenue but was he says he's going to do that by lowering rates. when you look at the platte it doesn't work. when i've said is, i am prepared to work with the speaker and democrats and republicans to go after excessive health care costs in our federal health care system, we're going to have to strengthen those systems and i think we can do that without hurting seniors, without hurting benefi
thank you for that reporting from washington. >>> president obama talking about the fiscal cliff. in his first television interview since the election, that cliff, of course the combination of government spending cuts and tax increases that automatically go into effect on january 1st because people we elected to make a deal can't make a deal. yesterday, republicans proposed steep spending cuts but gave no ground on president obama's call to raise taxes on the wealthiest americans....